Looking for a business loan in India? Here's everything you need to know — from bank rates to government schemes to documents required.
Business Loan Interest Rates (2026)
| Bank | Rate | Max Amount | Max Tenure |
|---|---|---|---|
| SBI (SME) | 11.15% - 14.75% | ₹50 crore | 15 years |
| HDFC Bank | 10.00% - 22.50% | ₹50 lakh | 5 years |
| ICICI Bank | 14.75% - 19.00% | ₹2 crore | 5 years |
| Axis Bank | 14.25% - 21.00% | ₹50 lakh | 5 years |
| Bajaj Finserv | 14.00% - 26.00% | ₹80 lakh | 8 years |
MUDRA Loan — No Collateral Needed
Pradhan Mantri MUDRA Yojana offers loans up to ₹10 lakh without collateral:
- Shishu: Up to ₹50,000 — for new businesses
- Kishore: ₹50,001 - ₹5 lakh — for growing businesses
- Tarun: ₹5,00,001 - ₹10 lakh — for expansion
No processing fee for Shishu category. Available at all banks.
EMI Example
For a ₹10 lakh loan at 14% for 5 years:
- Monthly EMI: ₹23,268
- Total Interest: ₹3,96,098
- Total Payment: ₹13,96,098
Documents Required
- Identity Proof (Aadhaar, PAN)
- Address Proof (utility bill, rent agreement)
- Business Proof (GST registration, Udyam certificate)
- Last 2 years ITR and financial statements
- Last 6-12 months bank statements
- Business plan (for new businesses)
Free Tools for Your Business
- EMI Calculator — calculate any loan EMI
- GST Calculator — instant tax calculations
- Invoice Generator — create GST invoices
- Salary Calculator — CTC to take-home breakdown
- Business Name Generator — AI-powered naming
🔢 Try the Business Loan EMI Calculator
All tools at DoAide are free and work without registration.
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